Physician acquisition: what to avoid after the deal is complete

After a hospital acquires a physician practice, relations can become strained between the parties in any of four areas: Governance and decision making. Technology. Payment structures. Emotional factors related to the acquisition.     

The Resource Dependence, Service and Control Functions of Boards of Directors in Hong Kong and Taiwanese Firms

Since the Asian financial crisis of the late 1990's, there have been numerous calls for the reform of East Asian corporate governance. Without reform, fears abound that the crisis will return. However, a baseline understanding of corporate governance in East Asia needs to be established before reform efforts can begin. In the West, three major functions of boards are commonly recognized: resource dependence, service, and control. These functions have yet to be examined in the context of boards of directors of Overseas Chinese firms in East Asia. In this exploratory study, we examine the extent to which these functions are performed, primarily by outside board members, in Overseas Chinese firms in Hong Kong and Taiwan. We find that the service and control functions are less pronounced for East Asian boards than what would be expected in the West, while the resource dependence function is more pronounced. We also findthat the governance of the region is being moved closer to international practices by a new generation of leaders that have been exposed to Western influences and intense global competition. The implications of our findings for managers, educators, and researchers are discussed.     

Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma

The standard account of Austrian Business Cycle theory posits that central bank manipulations of interest rates fool bankers and investors into believing that there has been an increase in the real supply of loanable funds available for capital investment. However, reliance on foolishness ignores the entrepreneurial emphasis within the Austrian tradition and fails to produce the strongest possible case for Austrian Business Cycle theory. We use the prisoner's dilemma framework to model the profit maximizing behavior of bankers and the investors under uncertainty when the market rate of interest is below the underlying rate of time preference.     

The impact of formal processes for market information acquisition and utilization on the performance of Chinese new ventures

The authors examine the performance impact of formal market information processes. Specifically, a theoretical model is developed that hypothesizes that formal processes for market information acquisition and utilization have direct and positive main effects on new venture success and is then tested using a sample of 222 new ventures located in China. Findings indicate that new venture success is positively correlated with the use of formal processes for market information acquisition and use. Moreover, the relative importance of formal processes to the acquisition and use of market information depends on whether the new venture serves an emerging or established market. In particular, the impact of formal processes for information acquisition is higher among new ventures that serve emerging markets. In contrast, the impact of formal processes for information use is higher among new ventures that serve established markets. We present managerial implications of our results. For example, a new venture with a strong market orientation can respond quickly to emerging marketplace needs, and can even seize the advantage from incumbents. If it is in an emerging market, however, the new venture management team should strive to excel at information acquisition; in an established market, it is important for the management team to excel at information utilization.     

DEFINING AND OPERATIONALIZING SUPPLY CHAIN PROCESS INTEGRATION

Integration has been recognized as critical to successful supply chain management. However, an extensive literature review revealed no consensus in its conceptualization. The current study attempts to address this research gap by providing a better definition and operationalization of supply chain process integration. With empirical support, it is proposed that internal and external supply chain process integration should be treated as two separate constructs, each comprised of two dimensions: connectivity and simplification.     

Ranking Research Productivity in Accounting for Asia-Pacific Universities

Using a set of 18 accounting journals and a sub-set of top five journals from 1991 to 2002, we rank the research productivity in accounting for a total of 119 Asia-Pacific universities. For the whole sampling period, the top five universities are the University of New South Wales, Hong Kong University of Science and Technology, Nanyang Technological University, the University of Sydney, and City University of Hong Kong. A number of prominent universities with long school history are not ranked in the top 20. During the second half of the sampling period, Hong Kong and Singaporean universities have shown the most improvement while some Australian universities have exhibited decline in research output. Also, Hong Kong University of Science and Technology replaces University of New South Wales as the first-ranked university in the period of 1997–2002. When compared with other North American universities, the accounting productivity of the top 20 Asia-Pacific institutions is comparable with that of leading universities in North America. The comparison is even more favorable to the Asia-Pacific universities during the period of 1997–2002.     

Assessing the Impact of District Primary Education Program in India

We examine the impact of India's District Primary Education Program (DPEP) introduced in the mid‐1990s. We exploit the fact that the DPEP was targeted towards primary school age children and was introduced in phases to different districts in India, and many of the districts never got the program to implement a difference‐in‐difference strategy to find the causal impact of the program on probability of attended primary school, probability of completed primary education and years of schooling. We find that the DPEP program increased the probability of attended primary school and completed primary school by about 2 percentage points. Similarly, the program increased the years of schooling by 0.16 years.     

Revisiting the Miles and Snow strategic framework: uncovering interrelationships between strategic types,capabilities, environmental uncertainty,and firm performance

The Miles and Snow strategic type framework is re‐examined with respect to interrelationships with several theoretically relevant batteries of variables, including SBU strategic capabilities, environmental uncertainty, and performance. A newly developed constrained, multi‐objective, classification methodology is modified to empirically derive an alternative quantitative typology using survey data obtained from 709 firms in three countries (China, Japan, United States). We compare the Miles and Snow typology to the classification empirically derived utilizing this combinatorial optimization clustering procedure. With respect to both variable battery associations and objective statistical criteria, we show that the empirically derived solution clearly dominates the traditional P‐A‐D‐R typology of Miles and Snow. Implications and directions for future research are provided. Copyright © 2004 John Wiley & Sons, Ltd.     

基于产业背景的金融控股集团协同机制研究

产业金控集团是当前我国产业资本借力资本市场发展实体经济的重要方式,但在 实际运行中存在协同机制不健全、协同效应发挥不足、产融结合的深度和广度不足等问题。本 文对国内外产业金融理论进行了文献综述,深入分析了产业金控集团产生的动因,指出了目前 产业金控集团在发挥协同效应中存在的不足。结合产业金控集团的优势和特点,从构建横向协 同机制和纵向协同机制的角度,探讨了完善产业金控集团协同机制的举措。     

Simultaneous Estimation of Legal and Illegal Supply and Demand: The Case of Motion Pictures

Prior research into illegal goods has typically looked at one-way effects, such as illegal demand on legal demand. This research investigates a previously unexamined component of the market, illegal supply. The authors examine the supply and demand of legal goods and their illegal counterparts as a market system of four interdependent components. This research makes theoretical and empirical contributions by evaluating illegal supply in this system. Simultaneous equations estimate each market component on the others using data from the motion picture industry. The results find illegal supply has no effect on legal supply (movie screens), positive effects on illegal demand (piracy downloads), and some effect on legal demand (box office revenues). Timing effects highlight this: illegal supply has a positive effect on legal demand during a film’s opening week, but no effect post-launch. The other market components have positive effects on illegal supply (except legal supply, which is negative in the opening week). Additionally, illegal demand has a negative effect on legal demand during the opening week of release, but not in the subsequent weeks. This finding alleviates prior research tension as to whether piracy helps or hurts legal sales, as omitting illegal supply could result in biased estimates.